A Finnish climate analytics start-up has secured significant funding to further its innovative indoor air quality solutions. The funding round, led by a London-based venture capital firm, marks a pivotal step in the start-up’s ambitious expansion plans.
This latest investment aims to enhance the firm’s capabilities in developing AI-driven tools for monitoring indoor air quality. The funding will also support its expansion into new markets, including the UK and potentially the US.
Overview of the Climate Analytics Solution
The Finnish start-up, 720 Degrees, has created a pioneering indoor air quality analytics system that utilises artificial intelligence. The system interprets billions of indoor air data points from hundreds of facilities each month, drawing comparisons to outdoor air quality and direct feedback from facility occupants.
Facility managers traditionally rely on outdated methods for controlling building environments, resulting in decreased property value and occupant dissatisfaction. The 720 Degrees solution offers real-time data, supporting quick decision-making, operations monitoring, and reporting.
This advanced analytics system not only assists in reducing maintenance costs but also increases property value and occupant satisfaction equally.
Impact of the Investment
The recent funding round, led by Pi Labs, has injected an additional €2.9 million into 720 Degrees. This brings the total amount raised since 2014 to €3.54 million.
Rick Aller, co-founder of 720 Degrees, stated, “We consider Pi Labs’ investment greater than its monetary value. Pi Labs is a recognised investor in the Proptech field, and they have the capacity to help us enter the UK market.”
This investment will enable the company to expand its operations across Europe and develop its footprint in the emerging US market.
Technological Advancements and Usage
The 720 Degrees platform provides automated suggestions to improve employee productivity through constant monitoring of the building’s internal environment.
Already utilised in numerous facilities across Europe, the tool boasts notable clients such as CBRE, Colliers, and IBM.
Dominic Wilson, Managing Partner of Pi Labs, noted, “720 Degrees’ solution facilitates property maintenance efficiency with an intelligent design never seen before.” He further added that the solution taps into ongoing wellness and productivity trends.
Strategic Importance of the UK Market
The UK market presents a significant opportunity for 720 Degrees. Pi Labs’ expertise in the property technology sector will be instrumental in finding strategic partners and customers within the UK.
The UK remains a hub for technological innovation and presents numerous avenues for the introduction of advanced analytics solutions in property management.
Such strategic moves are poised to bolster the start-up’s presence and influence in the European market substantially.
Grants and Additional Funding
In addition to venture capital, 720 Degrees has also received grants from Horizon 2020 and Business Finland. These grants are part of the esteemed Young Innovative Companies programme.
These additional funds have been critical in supporting continuous innovation and development of their analytical tools.
Such financial backing highlights the growing recognition and support for the firm’s revolutionary approach to indoor air quality management.
Client and Market Expansion
With the new funding, 720 Degrees aims to broaden its client base in Europe while also making strides in the nascent US market.
The company’s strategy involves scaling its operations and service offerings to meet the growing demand for intelligent indoor air quality solutions.
This expansion is expected to drive substantial growth in market share and industry influence.
Investor Confidence
Investors in 720 Degrees also include J&T Ventures, Tekes, and several US-based angel investors.
The diverse investor base underscores broad confidence in the company’s innovative approach and market potential.
720 Degrees is poised to make significant advancements in the field of climate analytics with the new funding secured. The investment will aid in the global expansion and continuous improvement of its innovative solutions.
The start-up’s focus on real-time data and artificial intelligence positions it well to lead the market in indoor air quality management, enhancing both property value and occupant satisfaction.